With President Trump’s sweeping tariff announcement on April 2, many businesses across the U.S. have been forced to reconsider their long-term operational strategies. According to a recent survey from Endeavor Business Media, which gathered insights from more than 400 business leaders across multiple industries—26% of which are part of the construction industry—businesses are rethinking their plans for the year as they brace for higher costs.
Of the businesses surveyed, a majority believe they will see some sort of negative impact from tariffs. While 41% say they will be very negatively impacted, just 13% expect a very positive impact. Additionally, 25% expect a somewhat negative impact, 12% anticipate a somewhat positive impact, and just 10% anticipate no impact at all.
For those who do anticipate a negative impact, 34% say the biggest effect will come from the rise in raw material costs. A majority of those surveyed also expect to see more than 50% of their company’s spending be affected by tariffs. Operating costs will also be majorly affected by tariffs, according to the report. Approximately 21% of businesses say their operating costs will rise by more than 25%.
The data suggests that most companies are bracing for higher operating costs because of new tariffs, with one in five expecting a significant impact. While a small portion anticipates no change, the vast majority foresee cost increases that could affect everything from supplier relationships to pricing strategies. These rising costs may force businesses to adapt quickly, whether through cost-cutting, renegotiating contracts, or passing expenses onto customers. Read more